What’s Up, What’s Down: Higher Eurodollar With a Triple Top Still in Place

Comments for Tuesday, March 9, 2010

Looking Ahead to Today by Reflecting Back at Monday’s Price Action


Higher closes yesterday for the Eurodollar while lower for the notes and bonds. The Eurodollar continues be be in a gradual long-term uptrend with a TRIPLE TOP still in place. The recent sell-off in the bonds along with a DOUBLE TOP in the June contract has kept my buy signal in place while the notes continue to be a buy whole showing some signs of losing steam. The notes and bonds have been holding up well leading me to believe its because people don’t think the stock market rally will last and want their funds to be in the safest place possible. BUY SIGNAL FOR THE NOTES. SELL SIGNAL FOR THE BONDS. CALL FOR DETAILS!

EuroDollar Chart

US Treasury Chart

Treasury Note Chart


Higher closes Monday for live and feeder cattle but lower for lean hogs and pork bellies. The cattle settled sharply higher with its highest high and close since May ’09 while the feeders continue moving higher making another new CONTRACT HIGH AND CLOSE for the fifth consecutive trading session. The beef market continues to be be very strong overall with the feeders leading the way no matter which way the corn is headed. Hogs settled lower again while, so far, its having a small retracement with support in the April contract at the 7000-7100 area. Bellies settled lower for the fourth consecutive trading session but now is in a support area if that means anything for this commodity! BUY SIGNALS FOR LIVE AND FEEDER CATTLE, HOGS AND PORK BELLIES. CALL FOR DETAILS!

REMINDER: March/June Currency Futures Rollover began Monday, March 8!!

Read the balance of my morning comments, including the Metals, Softs, Energies and Grains, at my website. For my complete coverage, visit my commentary page at www.markethead.com.

Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (www.zaner.com) a Chicago-based futures brokerage firm. If you would like a free booklet explaining the charts mentioned above, email Rick at ralexander@zaner.com.

The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. Futures and options trading is speculative in nature and involves risks. Spread trading is not necessarily less risky than outright positions. Futures and options trading is not suitable for all investors.

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